SharkNinja (NYSE:SN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SharkNinja (NYSE:SN) had its price objective increased by Morgan Stanley from $80.00 to $93.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price target on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America boosted their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Canaccord Genuity Group raised their target price on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.85.

SharkNinja Stock Performance

Shares of SN traded down $3.09 during mid-day trading on Friday, hitting $89.12. 4,760,236 shares of the company’s stock were exchanged, compared to its average volume of 1,337,842. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46. SharkNinja has a 52 week low of $41.12 and a 52 week high of $112.93. The stock’s 50-day simple moving average is $103.41 and its 200-day simple moving average is $84.82. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. SharkNinja had a return on equity of 33.74% and a net margin of 7.02%. The company’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. On average, equities research analysts expect that SharkNinja will post 3.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. abrdn plc lifted its holdings in SharkNinja by 17.8% during the 3rd quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after buying an additional 63,299 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of SharkNinja in the first quarter worth approximately $981,000. GSA Capital Partners LLP bought a new stake in SharkNinja in the first quarter valued at approximately $1,076,000. NBC Securities Inc. increased its position in SharkNinja by 4,000.0% during the 3rd quarter. NBC Securities Inc. now owns 6,150 shares of the company’s stock valued at $668,000 after purchasing an additional 6,000 shares during the period. Finally, Concorde Asset Management LLC bought a new position in SharkNinja during the 2nd quarter worth approximately $661,000. Institutional investors and hedge funds own 34.77% of the company’s stock.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.